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Tasracing has released its annual report for 2013/14, reporting an increase in wagering turnover of $41.9 million (10.4 per cent) to $445.6 million.

The 2013/14 annual report, tabled in the Tasmanian Parliament, continues the growth of the previous two financial years that shows the company has achieved wagering growth of $100 million or nearly 29 per cent over the three-year period.

The break down of the 2013/14 turnover growth code by code shows thoroughbred turnover grew by six per cent or $191.1 million, harness turnover grew by 11.5 per cent or $78.7 million and greyhounds by 15 per cent or $175.8 million.

Chairman Brian Speers said increasing wagering turnover growth was one of Tasracing’s key responsibilities.

“It is directly linked to commercial decisions taken by Tasracing, including our continued focus on delivering racing product aligned to customer expectations, an increasing focus on digital distribution of information and building strong relationships with wagering providers,” he said.

“The performance of our assets has also been important, allowing us to deliver reliable racing product.”

Despite the betting increase Tasracing recorded a loss of $200,000 compared to a $500,000 loss the previous financial year.

“This represents a continuation of an improved net performance by Tasracing thanks to ongoing disciplined and focused financial management and strong commercial growth,” he said.

“To give this some further context, Tasracing has maintained its reduced cost structures of the previous financial year while maintaining industry service levels, and has increased stakes and prize money by CPI (2.5 per cent or $476,000 to $23.2 million).

“Of this total, thoroughbreds received $12.2 million, harness $5.9 million and greyhounds $4.2 million.

“New wagering fee arrangements, and the increase in wagering turnover on Tasmanian racing, have resulted in an increase in race field fee revenue of 36 per cent or $1.8 million in 2013/14 to $6. 8million.”